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Global Cash Access completes acquisition of Multimedia Games19 December 2014LAS VEGAS, Nevada -- (PRESS RELEASE) -- Global Cash Access, Inc., a wholly-owned subsidiary of Global Cash Access, Holdings, Inc. (GCA) (“GCA” or the “Company”) announced today that it completed the acquisition of Multimedia Games Holding Company, Inc. (“Multimedia Games”). This transformational combination creates a uniquely diverse organization that will leverage cash access and compliance solutions with leading slot gaming experiences to enhance the full enterprise value proposition to casino operators. “Today marks a great milestone as two organizations, with differentiated product and service offerings, unite to create a full-service solution for casino operators to optimize cash-to-the-floor solutions with player-proven slot gaming products that focus on retaining and acquiring new casino players,” said Ram V. Chary, Chief Executive Officer and President of GCA. “Much has been accomplished by many people in enabling this transaction to close, and now we are excited to begin merging two passionate employee cultures into one powerful organization focused on customer service, operational efficiency and gaming innovation.” Mr. Chary added, “This acquisition is unique in comparison to other recent transactions in the gaming industry. Our distinct businesses have very little operational duplication and our combined organization will establish an industry-leading model with respect to recurring revenue contribution. We are immediately focused on benefiting from revenue synergies that exist by leveraging Multimedia Games’ full product portfolio across our widely licensed footprint and existing customer relationships, while also executing on cost synergies that have already been identified.” The Company will remain headquartered in Las Vegas, NV, and will continue to leverage MGAM’s existing technology and manufacturing facilities in Austin, TX. Advisory Partners BofA Merrill Lynch served as exclusive advisor to Global Cash Access on financial matters. DLA Piper served as legal counsel to Global Cash Access on the financing transactions, while Pillsbury Winthrop Shaw Pittman advised Global Cash Access on the acquisition. The advisory partners for Multimedia Games included: Wells Fargo Securities as its exclusive advisor on financial matters; and Latham & Watkins as advisor on legal matters. BofA Merrill Lynch and Deutsche Bank provided committed debt financing to Global Cash Access for the acquisition. About GCA GCA is a leading provider of fully integrated cash access solutions and related services to the gaming industry.
Global Cash Access completes acquisition of Multimedia Games
is republished from Online.CasinoCity.com.
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